Wealth Alliance Reduces Stock Holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG)

Wealth Alliance lowered its stake in Intuitive Surgical, Inc. (NASDAQ:ISRG) by 10.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,628 shares of the medical equipment provider’s stock after selling 315 shares during the quarter. Wealth Alliance’s holdings in Intuitive Surgical were worth $887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Intuitive Surgical by 0.7% in the third quarter. Vanguard Group Inc. now owns 29,868,227 shares of the medical equipment provider’s stock worth $8,730,184,000 after buying an additional 196,316 shares during the period. Geode Capital Management LLC raised its stake in shares of Intuitive Surgical by 1.0% in the first quarter. Geode Capital Management LLC now owns 6,444,995 shares of the medical equipment provider’s stock worth $1,642,287,000 after buying an additional 61,659 shares during the period. Morgan Stanley raised its stake in shares of Intuitive Surgical by 29.9% in the fourth quarter. Morgan Stanley now owns 5,866,613 shares of the medical equipment provider’s stock worth $1,556,706,000 after buying an additional 1,351,002 shares during the period. Jennison Associates LLC raised its stake in shares of Intuitive Surgical by 6.4% in the third quarter. Jennison Associates LLC now owns 4,585,190 shares of the medical equipment provider’s stock worth $1,340,205,000 after buying an additional 274,692 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Intuitive Surgical by 6.6% in the third quarter. Invesco Ltd. now owns 3,750,490 shares of the medical equipment provider’s stock worth $1,096,231,000 after buying an additional 232,205 shares during the period. Institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ISRG. Raymond James lifted their target price on Intuitive Surgical from $372.00 to $435.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Piper Sandler lifted their target price on Intuitive Surgical from $325.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Royal Bank of Canada lifted their target price on Intuitive Surgical from $400.00 to $432.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus lifted their target price on Intuitive Surgical from $420.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Truist Financial raised their price target on Intuitive Surgical from $390.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $375.70.

Insider Buying and Selling at Intuitive Surgical

In other news, EVP Robert Desantis sold 20,296 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $393.80, for a total value of $7,992,564.80. Following the transaction, the executive vice president now directly owns 5,507 shares of the company’s stock, valued at $2,168,656.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Robert Desantis sold 20,296 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $393.80, for a total value of $7,992,564.80. Following the transaction, the executive vice president now directly owns 5,507 shares of the company’s stock, valued at $2,168,656.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark Brosius sold 196 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $400.00, for a total value of $78,400.00. Following the completion of the transaction, the senior vice president now directly owns 1,842 shares in the company, valued at $736,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 248,418 shares of company stock worth $95,927,097. 0.80% of the stock is owned by insiders.

Intuitive Surgical Price Performance

Shares of NASDAQ ISRG opened at $378.55 on Wednesday. The stock has a market capitalization of $134.18 billion, a P/E ratio of 75.26, a price-to-earnings-growth ratio of 5.86 and a beta of 1.36. Intuitive Surgical, Inc. has a 1-year low of $254.85 and a 1-year high of $403.76. The business has a fifty day moving average price of $387.90 and a 200 day moving average price of $342.17.

Intuitive Surgical (NASDAQ:ISRG) last released its quarterly earnings results on Tuesday, January 23rd. The medical equipment provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.12. Intuitive Surgical had a return on equity of 13.11% and a net margin of 25.24%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business posted $0.91 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuitive Surgical, Inc. will post 4.93 earnings per share for the current fiscal year.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.